CIBT Announces New Online Courses and International Degree Program
Capital Alliance Group Inc. and its subsidiary, CIBT Canadian Institute of Business & Technology Corporation (“CIBT”) are pleased to announce the addition of a new International Bachelor degree program and new online vocational education programs to CIBT’s existing curriculum. These new programs cover several areas of study including E-commerce, Information Technology, Computer Science, Business Management, Property Management and English Language training. Given the growth of China’s economy and technology industry along with the impact of China’s anticipated World Trade Organization (WTO) membership, these new areas of study are in high demand.
CIBT’s new International Bachelor degree program entails two major areas of study – Business Administration and Computer Science. This innovative program requires students to complete the first two years of their course work with CIBT and the Computer Institute of BPU in Beijing, China. The final two years will involve studying abroad with CIBT’s foreign partners. Partners in the program require: The Computer Institute of Beijing Polytechnic University (Beijing, China), Royal Roads University (Victoria, Canada), La Trobe University (Melbourne, Australia), Assumption University (Bangkok, Thailand), University of Portsmouth (Portsmouth, UK), and the Schiller International University – The American College of Switzerland (Leysin, Switzerland).
CIBT’s educational website (www.WangU21.com) and the initial series of online courses have been under development and operational testing for the some time. The first group of CIBT students using this online format will be enrolled in November of 2000. CIBT is very excited about the slate of new online courses that they currently have under development. One of the online courses that have generated a significant amount of interest is CIBT’s new and innovative E-Commerce course. The unprecedented growth of E-commerce and the lack of structured educational programs in this area have generated a very strong demand for this course in China. A number of prominent companies have signed agreements with CIBT or have expressed an interest in sponsoring this program. These companies require: NASDAQ International, Bank of China International, 21DNN.com (the only government approved news service .com in Beijing), Sina.com (the largest Chinese portal site), and PTMK.
The first online course to be offered by CIBT will be “Business English Writing” which has been popular in the traditional classroom format for the past five years. This course was developed through a joint effort by FESCO (a government monopoly of labor market for foreign companies) and the London Chamber of Commerce and Industry. As this course moves from an offline to an online format, it is anticipated that its popularity and enrollment will increase substantially. This program will become an integral part of a comprehensive English training package CIBT will offer to its corporate clients.
All of CIBT’s new online programs will either be jointly operated with, or sponsored by, government agencies and/or multinational companies. Selected online programs will be marketed as “Turn Key” training packages for corpo rate clients, while others will be franchised to a nationwide network of partners through a Franchise Support System (FSS). CIBT’s gross educational revenues for the nine months ended September 30, 2000 totaled C$2,125,377 compared to C$1,820,510 for the nine months ended September 30, 1999, an increase of 17%. Net income for the nine months ended September 30, 2000 totaled C$229,236 compared to C$199,503 for the nine months ended September 30, 1999, an increase of 15%.
On Behalf of the Board of Directors of CIBT.
Toby Chu
President and C.E.O
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